Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed in the negative territory. The NSE Nifty 50 fell 197.80 points or 0.91% to settle at 21,513, while the BSE Sensex closed 670.93 points lower or 0.93% to 71,355.22. The broader indices closed in the red, with midcap stocks dragging the most. Bank Nifty index closed lower at 708.75 points or 1.47% to settle at 47,450.25.
The NSE Nifty 50 slipped 0.92% to settle at 21,511.10, while the BSE Sensex fell 0.93% to 71,355.22.
BSE Midcap fell by 295.7 points or 0.78% to 37,410.83 points. Also, Nifty Midcap 100 slipped 0.87% to 46,989.45 points.
Shares of Adani Ports and SEZ, Power Grid, HCL Technologies, BPCL, and NTPC were the top gainers in the Nifty 50. While UPL, Divi’s Laboratories, SBI Life Insurance, Hindustan Unilever, and Britannia were the top laggards in the Nifty 50.
Broking firm Jefferies maintained a ‘Buy’ rating on the stock of HDFC Bank with a 24% upside target price of Rs2,100 despite the bank’s pre-quarter lower retail net inflow and overall inflow in the 3QFY24.
The bank’s pre-quarter retail inflow came in at Rs53,000 crore against the Rs70,000-80,000 crore in the previous quarter or 2QFY24. The overall inflow also came down to Rs40,000 crore from Rs1.1 lakh crore in the previous quarter, the brokerage said in a research report.
Also Read: Jefferies maintains ‘Buy’ on HDFC, sees 24% upside despite lower pre-quarter retail net inflow and overall inflow
The shares of Adani Green Energy gained 1.34% to Rs 1,696.50 in intra-day trading on Monday following the announcement that Adani Green Energy Limited (AGEL) has revealed a redemption plan for the $750 million 4.375% notes due on 09 September 2024 (Holdco Notes). The outstanding amounts of the Holdco Notes will be fully secured through cash balances set aside as part of various reserve accounts, securing the Holdco Notes, eight months prior to maturity.
“We will begin the week with modest upside modest expectations, aiming 21860-930, but with eyes on 22400 as well. Alternatively, while a collapse is less expected unless below 21370, slippage past 21630 could considerably dilute the upside prospects,” said Anand James, Chief Market Strategist, Geojit Financial Services
Shares of Oil and Natural Gas Corp rose 2% to hit a new 52-week high of Rs220.80 after the company announced the commencement of oil production from its deep-water asset, KG-DWN-98/2 Block. The project is likely to increase the company’s oil production by 11% and gas production by 15%.
“Nifty weekly contract has highest open interest at 22500 for Calls and 21000 for Puts while monthly contracts have highest open interest at 22000 for Calls and 21000 for Puts. Highest new OI addition was seen at 23000 for Calls and 21700 for Puts in weekly and at 21800 for Calls and 21800 for Puts in monthly contracts. FIIs increased their future index long position holdings by 1.90%, decreased future index shorts by 1.77% and in index options by 55.33% increase in Call longs, 34.79% increase in Call short, 71.58% increase in Put longs and 10.42% increase in Put shorts,” Anand James, Chief Market Strategist, Geojit Financial Services
UPL, Divis Labs, Hindustan Unilever, Tata Consumer Products, and Apollo Hospitals are the top losers on NSE Nifty 50.
“Expect downside momentum to persist, while below 83.10, with recent reaction low at 82.9, offering the first support. Slippage past the same could expose 82.78,” said Anand James, Chief Market Strategist, Geojit Financial Services.
Source: NSE
Shares of ACC Limited slumps 1.53% to Rs 2,341 in the intra-day trade on Monday on the following news that ACC Limited at its Board Meeting concluded on 08th January 2024 has agreed to acquire Asian Concretes and Cements for Rs 426 crore.
“Exhibiting a robust recovery from the 47500 support level, Bank Nifty showcases active bullish activity, rebounding from the 14-day moving average support at 47800. A closing above 48200 is crucial, as it could propel the index towards 48500 and 48800 levels. The immediate support for Bank Nifty stands at 47800, indicating a key level to monitor in the current market scenario,” said Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
Bharat Petroleum Corporation, Tata Steel, Oil and Natural Gas Corporation, Eicher Motors, and Bharati Airtel were the top gainers in the Nifty 50. Conversely, UPL, Hindustan Unilever, Bajaj Finance, Tata Consultancy, and Britannia were the top losers in the Nifty 50 during the early trade hours.
The NSE Nifty 50 gained 36.80 points or 0.17% to settle at 21,747.60 in opening trade, while the BSE Sensex opens 87.10 points or 0.12% to 72,113.25.
The NSE has added Balrampur Chini Mills, Chambal Fertilizer, Delta Corp, Escorts, Gujarat Narmada Valley Fertilizer and Chemicals, Indian Energy Exchange, Indian Cements, National Aluminium, Piramal Enterprise, SAIL, and Zee Entertainment to its F&O ban list for January 08, 2024.
Foreign institutional investors (FII) bought shares worth net Rs 1,696.8 crore, while domestic institutional investors (DII) offloaded shares worth net Rs 3497.6 crore on January 05, 2023, according to the provisional data available on the NSE.
Shares in the Asia-Pacific region are trading in mixed territory on Monday morning. The Asia Dow is trading up by 0.37%, Japan’s Nikkei 225 is green, up by 0.27%, Hong Kong’s Hang Seng index is trading down by 0.66% and the benchmark Chinese index Shanghai Composite is trading lower by 0.85%.
WTI crude prices are trading at $73.82 up by 0.01%, while Brent crude prices are trading at $78.69 down by 0.06%, on Monday morning.
The US Dollar Index (DXY), which measures the value of the dollar against a basket of six foreign currencies, traded down by 0.05% at 102.41.
U.S. stocks hinted at a rebound after a dour start to the year as investors digest data hinting that the Federal Reserve can pull off a soft landing for the world’s largest economy, Bloomberg reported. The tech-heavy Nasdaq Composite gained 13.77 points or 0.09% at 14,524.07. The S&P 500 surged by 8.56 points or 0.18% at 4,679.24, while the Dow Jones Industrial Average ended higher by 25.77 or 0.07%.